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Feds Prepared To Reopen All Superstorm Sandy Insurance Claims

 A worker shovels muck out of a home in Longport, N.J., after Superstorm Sandy in 2012. Federal regulators say homeowners will be able to challenge insurance payouts they believe shortchanged them.      Patrick Semansky/AP


A worker shovels muck out of a home in Longport, N.J., after Superstorm Sandy in 2012. Federal regulators say homeowners will be able to challenge insurance payouts they believe shortchanged them.
Patrick Semansky/AP

The Federal Emergency Management Agency says it is prepared to reopen all 144,000 insurance claims that resulted from Superstorm Sandy in 2012. The move comes after months of questions over whether insurance companies contracted by the National Flood Insurance Program fraudulently altered engineering reports. After thousands of homeowners said their insurance claims were systematically lowballed, FEMA began negotiations in an attempt to regain the trust of policy holders…

 

Asia Pacific lost 2 million lives, US$1.15 trillion to disasters

The Asia Pacific region has lost two million lives and US$1.15 trillion (RM4.3 trillion) to natural disasters in the past 45 years, accounting for 56.6% and 41% of global disaster impacts, respectively. About 88% of the people affected by natural disasters worldwide in the past 45 years live in the Asia and Pacific region, according to a new report issued this week by the United Nations Economic and Social Commission for Asia and the Pacific (Escap) at the 3rd World Conference on Disaster Risk Reduction in Sendai, Japan…

 

Govts fall short at disaster risk reduction conference

International aid agency Oxfam has criticized governments’ failure to agree on a bold global plan to build disaster resilience for communities in the world’s least developed nations during a recent international conference in Japan.Oxfam’s senior humanitarian policy advisor Scott Paul said governments had again let down the world’s poorest people, who were most vulnerable to natural disasters…

 

Study Shows Disaster-Related Economic Losses Unlikely to Drop

According to Dr. Milan Simic, senior vice president of AIR Worldwide, the study normalized the economic losses from major natural disasters over the last twenty years and found that they oscillate around a baseline value of $240 billion. This is close to the $250 billion to $300 billion estimate of current annual levels of natural and man-made disaster losses presented in UNISDR’s 2015 Global Assessment Report for Disaster Risk Reduction. The UNISDR is the UN office dedicated to disaster risk reduction…

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